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Govt may strike off 2.25 lakh companies for not filing financial statement

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Govt may strike off 2.25 lakh companies for not filing financial statement

The government has identified over 2.25 lakh companies and 7,191 Limited Liability Partnerships (LLPs) which have not filed requisite financial statement for 2015-16 and 2016-17, and they may be struck off during the current financial year, said Ministry of Finance in a statement.

The Ministry of Corporate Affairs (MCA) has already struck off over 2.26 lakh companies for non- filing of financial statements or annual returns for a continuous period of 2 years or more, said the statement.

Also, over 3.09 lakh directors were disqualified for not filing financial statements or annual returns for preceding 3 years (2013-14, 2014-15 and 2015-16).

“For the second drive to be launched during 2018-19), 2,25,910 companies have been further identified for being struck off under section 248 of the Companies Act, 2013…for non-filing of financial statements for 2015-16 and 2016-17,” the statement said.

Also, 7,191 LLPs have been identified for action under section 75 of the LLP Act, 2008 due to non-filing of financial statements for the stated years, it said. These companies and LLPs will be given an opportunity of being heard by way of notices regarding their default and the proposed action. Appropriate action will be taken after considering their response, the statement said.

A task force headed by Finance Secretary Hasmukh Adhia and MCA Secretary Injeti Srinivas was set up in February 2017 to check the menace of shell companies through a coordinated, multi-agency approach. The task force has compiled a database of shell companies and classified them into 3 categories– Confirmed list, Derived list and Suspect list. The Confirmed List has a total of 16,537 confirmed shell companies on the basis of the information received from the various law enforcement agencies of the companies found to be involved in illegal activities.

The ‘derived list’ has 16,739 companies identified on the basis of 100 per cent common directorships with the confirmed shell companies. The ‘suspect list’ has 80,670 suspected shell companies and has been drawn up by SFIO using certain red flag Indicators.

The Task Force has identified certain red flag Indicators, which will be used to identify more shell companies, the statement said.

The Task Force has directed all member law enforcement agencies to send the details of action taken against chartered accountants by them to ICAI, it said. The ex- directors / authorised signatories of the struck-off companies have been restricted from operating the bank accounts of these companies and they cannot withdraw any amount from these bank accounts, other than for specified purposes, till the company is restored u/s 252 of the Companies Act, it said.

The Ministry of Corporate affairs will also be launching a public awareness campaign soon to make the public aware of the need to get the registrations of their defunct companies cancelled themselves, it said.

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Heavy rain disrupts flights, triggers flood alerts as monsoon intensifies across India

Heavy monsoon rainfall disrupted flights in Mumbai, prompted an orange alert in Delhi and led the IMD to issue heavy rain warnings for several states as a Bay of Bengal depression intensified.

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Monsoon

Heavy monsoon rainfall continued to affect several parts of the country on Sunday and Monday, disrupting air travel, inundating roads and prompting weather alerts in multiple states. The India Meteorological Department (IMD) has warned that a depression over the Bay of Bengal is likely to bring widespread heavy to very heavy rainfall across eastern India over the next 24 hours.

Mumbai bears the brunt of heavy rainfall

Mumbai experienced one of the most severe impacts of the ongoing monsoon spell after heavy overnight rain and strong winds temporarily halted runway operations at Chhatrapati Shivaji Maharaj International Airport for around an hour.

The disruption led to the cancellation of four IndiGo flights, while 13 incoming flights were diverted before operations gradually returned to normal. Flight tracking data also showed significant delays, with nearly 90 per cent of departing flights delayed by more than an hour on average and almost half of arriving flights running behind schedule.

The IMD maintained a red alert for Mumbai after several areas recorded more than 200 mm of rainfall within 24 hours, with some locations receiving close to 300 mm.

IMD forecasts widespread heavy rainfall

According to the IMD, a well-marked low-pressure area over the Bay of Bengal has intensified into a depression and is expected to cross the north Odisha coast within the next 24 hours.

The weather system is expected to bring widespread heavy to very heavy rainfall across eastern India, while several other regions continue to remain under rainfall alerts due to active monsoon conditions.

Delhi under orange alert after hottest July day in two years

The IMD has issued an orange alert for Delhi, forecasting a generally cloudy sky with moderate rainfall across the national capital.

The alert comes after Delhi recorded its hottest July day in two years on Sunday, with the maximum temperature reaching 38.6 degrees Celsius. Despite the heat, moderate showers provided temporary relief in several areas of Delhi-NCR.

Chhatarpur recorded the highest rainfall in the region, receiving 49 mm of rain by Sunday afternoon. However, waterlogging was reported in parts of the locality, affecting commuters and residents.

Heavy rain forecast for Tamil Nadu

The IMD has also forecast heavy rainfall at isolated locations in Coimbatore and the Nilgiris on Monday.

According to the Regional Meteorological Centre in Chennai, multiple weather systems, including a trough extending from south Gujarat to Kerala and the depression over the Bay of Bengal, are expected to support widespread rainfall across parts of Tamil Nadu. Other districts along the Western Ghats are also likely to receive moderate rainfall accompanied by gusty winds.

Rain-related incidents reported in Maharashtra

Heavy rainfall also led to several rain-related incidents in Maharashtra’s Thane and Palghar districts.

A 17-year-old boy drowned in the swollen Kamvari River in Bhiwandi, while two people were injured after part of a second-floor balcony collapsed in Navi Mumbai’s Vashi area. Authorities said continuous rainfall also triggered structural collapses and tree-fall incidents in several locations.

With active monsoon conditions continuing across large parts of the country, authorities have urged residents in affected regions to remain cautious and follow official weather advisories.

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Ram Mandir Trust to hold key meeting today amid donation theft investigation

The Shri Ram Janmabhoomi Teerth Kshetra Trust is meeting in Ayodhya to deliberate on key resignations, review the ongoing donation embezzlement investigation and discuss the temple’s future administrative structure.

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The Shri Ram Janmabhoomi Teerth Kshetra Trust is scheduled to hold an important meeting on Monday in Ayodhya as investigations into the alleged embezzlement of temple donations continue. The deliberations are expected to focus on the resignations submitted by the Trust’s general secretary Champat Rai and trustee Anil Mishra, along with other administrative matters.

The meeting will be held at Mani Ram Chhawni, the monastery of Trust president Nritya Gopal Das. It will be the Trust’s first formal gathering since allegations related to the alleged theft of donations came to light.

Trust treasurer Govind Dev Giri has invited all regular and ex-officio members to participate in the meeting. The ex-officio members include Union Home Ministry Additional Secretary Prashant Lokhande, Uttar Pradesh Chief Minister’s Additional Chief Secretary Sanjay Prasad, Ayodhya District Magistrate Shashank Tripathi and former Principal Secretary to the Prime Minister Nripendra Mishra.

According to sources, Trust president Nritya Gopal Das is expected to attend the meeting after recently being discharged from hospital. The 89-year-old had been admitted in Lucknow on June 29 due to a urinary tract infection and breathing-related complications before being discharged on Friday.

Senior trustee K Parasaran, who is unable to travel because of age-related health issues, is likely to participate through video conferencing, according to sources.

Administrative changes may be discussed

The Trust is expected to consider the resignations of Champat Rai and Anil Mishra, who stepped down after their names surfaced in connection with the donation theft controversy. If the resignations are accepted, discussions may also take place on restructuring the Trust’s administrative setup.

The role of special invitee Gopal Rao is also likely to come up during the meeting. Besides leadership issues, trustees are expected to receive a briefing on the interim findings of the Special Investigation Team (SIT), which is conducting an administrative inquiry into the alleged embezzlement case.

The Trust may also review its future management framework, including the possible appointment of a chief executive officer to oversee the administration of the Ram Temple.

Financial statements to be placed before trustees

Sources said the meeting agenda also includes the presentation of the unaudited income and expenditure statement, balance sheet and other financial documents for the 2025-26 financial year for approval.

Speaking to reporters, special invitee Gopal Rao said all 14 trustees had been invited for the meeting and expressed hope that every member would attend. He added that Trust treasurer Govind Dev Giri had informed all members about the scheduled deliberations.

At present, the Trust has 11 regular members, including president Nritya Gopal Das, Vasudevanand Saraswati, Vishwaprasannatirth, Parmanand Giri, Govind Dev Giri, Krishna Mohan, Dinendra Das and K Parasaran.

Following the resignations of Champat Rai and Anil Mishra, along with the recent demise of trustee Bimlendra Mohan Pratap Mishra, the Trust currently has no vice president to chair meetings in the absence of the president.

Two parallel investigations underway

The meeting comes while two separate investigations into the alleged donation embezzlement are ongoing. The Special Investigation Team is carrying out an administrative probe, and its tenure has been extended until the end of July.

Meanwhile, the police are conducting a criminal investigation after an FIR was registered on the Trust’s complaint.

According to sources, statements of Champat Rai, Anil Mishra and special invitee Gopal Rao have been recorded by both the SIT and the police. However, no FIR has been registered against any of the three Trust functionaries so far.

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PM Modi says India managed Hormuz crisis with minimal impact on citizens through energy diversification

Prime Minister Narendra Modi said India successfully navigated the Hormuz crisis by expanding energy imports, reducing the burden of rising fuel prices on citizens and strengthening the country’s refining capacity while inaugurating Rajasthan’s first integrated refinery.

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PM Modi

Prime Minister Narendra Modi on Saturday said India successfully managed one of the world’s most challenging energy crises by expanding its energy sourcing, strengthening diplomatic partnerships and shielding citizens from the impact of rising global fuel prices.

Addressing a public gathering after inaugurating the country’s first greenfield integrated refinery-cum-petrochemical complex in Pachpadra, Rajasthan’s Balotra district, the Prime Minister said India adopted proactive measures during the recent Middle East crisis that helped maintain energy security despite global uncertainties.

According to PM Modi, India significantly diversified its energy imports as tensions disrupted global fuel markets.

“When the crisis began, India was importing energy from around 25 to 26 countries. During the crisis, we expanded imports to more than 40 countries,” he said, crediting India’s diplomatic outreach for ensuring uninterrupted supplies.

The Prime Minister also highlighted the financial measures taken by the government to cushion consumers from soaring international crude oil prices. He said public sector oil companies absorbed losses exceeding Rs. 75,000 crore between April and June while the Centre reduced excise duty on petrol and diesel by Rs. 10 per litre to prevent a steep rise in fuel prices for consumers.

PM Modi added that despite attempts by some groups to spread rumours and create panic during the crisis, the government’s efforts ensured stability.

He said those who expected India to struggle during the crisis had been proven wrong as the country successfully overcame the challenge.

India strengthening refining capacity

Speaking about India’s energy infrastructure, the Prime Minister said the country has become the world’s fourth-largest refining hub and continues to expand its refining capabilities to meet future energy demand.

He also said the government’s long-term planning helped India deal with disruptions in fuel and fertiliser supplies triggered by the conflict involving Iran and the US-Israel alliance.

Pachpadra refinery inaugurated in Rajasthan

During the visit, PM Modi inaugurated India’s first greenfield integrated refinery-cum-petrochemical complex at Pachpadra, marking Rajasthan’s first refinery project. He launched the facility by remotely activating the project after inspecting the refinery complex.

The Prime Minister also laid the foundation stone for several development projects in the state.

Highlighting the government’s approach towards infrastructure development, PM Modi said the BJP governments focus not only on announcing projects but also on ensuring their timely completion.

He also remarked that work on the Pachpadra refinery had remained largely stalled during the Congress government’s tenure in Rajasthan between 2018 and 2023 before gaining momentum again.

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